10,839 Shares in Crown Castle Inc. (NYSE:CCI) Bought by Stevens Capital Management LP

Stevens Capital Management LP bought a new position in Crown Castle Inc. (NYSE:CCI) in the 4th quarter, Holdings Channel.com reports. The firm bought 10,839 shares of the real estate investment trust’s stock, valued at approximately $984,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in Crown Castle in the fourth quarter worth $25,000. FNY Investment Advisers LLC grew its position in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle in the fourth quarter worth $37,000. Marshall Investment Management LLC purchased a new position in Crown Castle in the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in Crown Castle in the fourth quarter worth $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on CCI. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Friday, March 14th. Moffett Nathanson cut their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Price Performance

CCI stock opened at $106.61 on Friday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a market cap of $46.42 billion, a P/E ratio of 37.81 and a beta of 0.89. The firm has a 50-day moving average of $92.77 and a 200 day moving average of $101.13. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is currently -69.71%.

Crown Castle Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.